Hubert Senters here.
Let’s take a look at CMCSA. Hard one to say for a dyslexic fellow like myself. Hard to read and say. What am I talking about?
It got smoked today ladies and gentlemen. So you’ve had a mini smokage here and total carnage right there. That’s not good.
I wouldn’t short it down in the hall like this at the dead lows. Let it bounce a little bit. Short it with a stop that you’re cool with.
And then let’s see where this target is going to go so you’ve got some nastiness to the down side which is always the fundest trades.
So what you’re going to do is you’re going to look back here and we’re going to take a fibonacci.
And you’re going to go from this dead low right here. You’re going to click and hold and drag and drop it right up there to the high.
It has a potential to drop to $51.42 and maybe even $48.97. Now, if you short it down here in the hole you could potentially have a trading.
Maybe or maybe not. You probably get wiggled out a little. So let it bounce a little bit and then rollback over.
Here’s how you gauge whether it’s going to bounce or that this thing is really bad shape. You just do the reverse of what I just showed you.
You go from the high of today to the low of today. A normal retracement would be to retrace the $58 so you could basically give a $3 higher to short it with.
I bet it didn’t do a retracement at $50. I bet it goes to about bottom of the cloud here around $57 which is not bad. Place a stop and here’s your target zone $51 to $48.
I’ve been asked to speak at the Wealth 365 online event. I’m going to be discussing how I scan the markets to find potentially profitable trades in less than 10 minutes and with 3 clicks of my mouse.
I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.